4Kids Entertainment reveals Q2 figures

Losses narrow, but directors remain in talks with potential investors and buyers.
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4Kids Entertainment has reported its second quarter results for the period ending June 30th 2010.

Net revenues for the three months stood at $2.5 million, compared to $3.6 million for the same period in 2009. The company's net loss was $6.5 million (2009: $13.8m).

As of June 30th, the company had approximately $4.3 million in cash and $11.4 million in investment securities at their fair market value.

4Kids is continuing to explore its strategic alternatives. The Special Committee of the Board of Directors is currently in discussions with several firms which may be looking to invest in 4Kids or acquire all, or a portion of, the business.

Alfred Kahn, chairman and CEO of 4Kids, also pointed out that the firm's licensing operation continued to grow, stating that historically it had been its strongest business and has driven past performance for all its other segments.

"We are hopeful that we can develop sufficient revenue streams from some of our new properties which will contribute meaningfully to our bottom line in the coming years," Kahn commented.

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